Here are some potential pains and gains for real estate auction houses and cash buyers:

For auction houses:

Pains:
high upfront costs to market properties and run auctions
risk of properties not selling or selling for less than reserve price
Potential legal or title issues if properties have liens or other encumbrances

Gains:
ability to liquidate large portfolios of properties quickly
opportunity to reach new buyer pools beyond traditional MLS listings
Commissions earned on successful auction sales

For cash Buyers:

Pains:
Properties Properties sold "as-is" with limited inspection and contingency periods
Competition from other buyers can drive prices higher
Potential hidden issues found after purchase without repairs credit

Gains:
First look at off-market distressed properties before wider marketing
Convenience of all-cash offers without financing contingencies
opportunity to purchase below market value in competitive bidding
ability to renovate and resell for profit with short turnaround

Overall, auctions provide the benefits of expedited transactions for sellers but also risks for buyers. Cash buyers have the upside of unique inventory access but the downside of limited protections. Both can profit from deals, but pains include potential costs, legal issues, and competitive bidding pressures.